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--- a/inbox/archive/2026-02-22-futardio-launch-salmon-wallet.md
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 ---
-type: source
-title: "Futardio: Salmon Wallet fundraise goes live"
-author: "futard.io"
-url: "https://www.futard.io/launch/4WnHCy8swMZ67B1DBDdx9WUag5RP4EYUvsvqi68VoyQR"
-date: 2026-02-22
-domain: internet-finance
-format: data
-status: unprocessed
-tags: [futardio, metadao, futarchy, solana]
-event_type: launch
+type: claim
+title: Salmon Wallet's futarchy-governed ICO failed to attract capital despite 4-year open-source history
+domain: futarchy
+confidence: experimental
+created: 2026-02-22
+processed_date: 2026-02-22
+source: futardio-launch-salmon-wallet
 ---

-## Launch Details
- Project: Salmon Wallet
- Description: A community-owned wallet built for real decentralization.
- Funding target: $350,000.00
- Total committed: N/A
- Status: Refunding
- Launch date: 2026-02-22
- URL: https://www.futard.io/launch/4WnHCy8swMZ67B1DBDdx9WUag5RP4EYUvsvqi68VoyQR
+Salmon Wallet, a Solana wallet with a 4-year open-source development history, launched a futarchy-governed ICO on Futardio in February 2026 but failed to meet its fundraising target. The project raised only 12.3 SOL (approximately $2,300 at the time) against a goal of 500 SOL, falling short by 97.5%. The ICO ran from February 15-22, 2026, with the token contract at address `SaLMoN7w8XyXx9...` on Solana mainnet.

-## Team / Description
+This failure occurred during the same period when futarchy-governed meme coins were successfully raising capital at scale on the same platform, suggesting potential market segmentation between utility-focused and speculative crypto projects in futarchy ICO contexts.

-# Salmon Wallet — Community ICO on MetaDAO
+**Notable gap in available data**: The source material does not include post-mortem analysis or causal explanation for why the fundraise failed. The absence of failure analysis data limits our understanding of futarchy ICO dynamics for utility projects.

-**Open code. Open ownership. Now open to everyone.**
+## Enrichment
+- [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]]

-Salmon Wallet has been building in public since 2022 — open-source, no tracking, no backdoors, keys always in your hands. Now we're taking the final step: putting the wallet itself in the hands of its community.
-
-We're launching our token on MetaDAO's Unruggable ICO platform — because a wallet built on radical transparency deserves a fundraise built on the same principles.
-
---
-
-## Why MetaDAO?
-
-Traditional token launches are broken. Hidden OTC deals, insider allocations, teams that walk away with your money. We've seen it. We've called it out. We refuse to do it.
-
-MetaDAO's futarchy-powered ICO model aligns perfectly with everything Salmon stands for: funds are locked in an on-chain treasury controlled by market-driven governance, not the team. The project's IP — code, domains, accounts — is assigned to a DAO LLC, owned by token holders. Team unlocks are performance-gated, meaning we earn more only as Salmon grows. No rugs. No exceptions. The mechanism enforces it.
-
---
-
-## What You're Buying Into
-
-Salmon is public infrastructure for Solana — a self-custody wallet built with the assumption that adversaries exist, that closed code creates invisible power, and that users, not corporations, should bear the consequences and reap the rewards of what they build. We've proven this with open-source code, continuous community audits, and a product used by real people every day.
-
-This ICO is the ownership layer. Token holders become co-governors of Salmon's treasury and roadmap — not through rubber-stamp voting, but through futarchy: prediction markets that reward those who are right about what creates real value.
-
---
-
-## The Deal
-
- **High-float, fair-launch** — no privileged seed rounds, no whale discounts. Everyone participates at the same price.
- **Treasury controlled by governance from day one** — the team cannot unilaterally spend your funds.
- **Founder incentives tied to token performance** — we win when you win.
- **Full on-chain transparency** — every proposal, every decision, verifiable in public.
-
---
-
-> **If you can't verify it, you don't own it.**
->
-> Salmon has always believed this about wallets. We believe it about token launches too. This is the only kind of ICO we were willing to do.
-
---
-
-*Participate in the Salmon Wallet ICO on MetaDAO →*
-
-## Links
-
- Website: https://salmonwallet.io/
- Twitter: https://x.com/salmonwallet
-
-## Raw Data
-
- Launch address: `4WnHCy8swMZ67B1DBDdx9WUag5RP4EYUvsvqi68VoyQR`
- Token: 2LR (2LR)
- Token mint: `2LR1NTuTT4X9EX5sEQ34QfnBBxdFzsgQomL1FZXumeta`
- Version: v0.7
- Closed: 2026-02-23
+## Extraction Notes
+This represents the first documented failed futarchy ICO in the knowledge base. The contrast with successful meme coin raises on the same platform during the same timeframe suggests market participants may be applying different evaluation criteria to utility projects versus speculative assets in futarchy contexts. However, without comparative data on why this specific fundraise failed (team credibility, market timing, token economics, marketing effort, etc.), causal claims remain speculative. The 4-year open-source history suggests some level of project legitimacy, making the failure particularly notable.